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WeWork Announces Crypto as New Form of Payment 

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Like Tesla, WeWork said that it would be showing crypto on its balance sheet. The company added that it would pay landlords and third-party partners with crypto. 

Work-space sharing company WeWork has joined the list of companies who accept crypto as a form of payment. WeWork announced that beginning from the 20th of April, the company will start utilizing the new payment.

WeWork Reveals Crypto as New Payment Method

In the announcement, WeWork revealed that it has partnered with crypto exchange and wallet service Coinbase Global Inc (NASDAQ: COIN) and BitPay on the new service. According to WeWork, the partnership will help the company “expand its flexibility by utilizing cryptocurrency for inbound and outbound transactions.”

With the help of BitPay, WeWork will be supporting selected cryptocurrencies. The WeWork-supported cryptos include Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Paxos (PAX), and more other digital assets.

Notably, WeWork’s move to start accepting crypto payments came after electric vehicle company Tesla Inc (NASDAQ: TSLA) announced that it would start accepting cryptos in exchange for its product. The carmaker also added that it would not convert received digital assets to fiat currencies. Instead, the company will keep digital assets on its balance sheet.

Like Tesla, WeWork also said that it would hold received cryptocurrencies on its balance sheet. The work-space sharing service provider added that it would also pay landlords and third-party partners with cryptos. The crypto payment will be processed through Coinbase.

Furthermore, WeWork revealed in the announcement that Coinbase would be the first member of the WeWork community to pay for its membership in cryptocurrency. Coinbase’s decision shows the “growing demand” for easy payment options.

Comments on WeWork’s New Form of Payment

WeWork CEO Sandeep Mathrani commented on the new development. Mathrani said that the company’s strength lies in its ability to evolve and meet the diverse needs of its members across the globe. He added:

“As our member base continues to grow in the fintech sector, so will our ability to adapt to their needs and service a new economy…It only makes sense for us to expand on the optionality we provide by adding cryptocurrency as an accepted form of payment for our members.”

Apart from the CEO, WeWork Chairman and CEO of Softbank Group International (OTC: SFTBY) Marcelo Claure also made remarks on the new crypto payment method. Claire said that cryptocurrency is a major consideration in the work-space of the future and business. He added that digital assets serve as support in building a stronger global economy. Speaking further, he noted that WeWork is innovative and is on track to becoming a globally-focused business.

“WeWork’s ability to provide members with an additional convenient means of payment is hugely exciting. I am very pleased that WeWork is taking steps to recognize the value this technology can provide our current and future members,” continued Claure.

A report by The Wall Street Journal showed that WeWork has plans to go public later in the year. The report said that the company listing through a special acquisition company (SPAC) merger with BowX Acquisition Corp.

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Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.



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Ethereum price closes in on $4K as Shiba Inu (SHIB) steals Dogecoin’s thunder

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The crypto market has rallied into the weekend as Ether (ETH), Dogecoin (DOGE) and Shibu Inu (SHIB) hit new all-time highs as they lead the pack of altcoins up the market cap mountain. 

Much of the excitement behind Dogecoin’s rally has been attributed to the upcoming appearance of Elon Musk, the CEO of Tesla and a Dogecoin advocate, on the popular Saturday Night Live comedy sketch show. Ether, on the other hand, continues to rally toward $4,000 as institutional interest in the altcoin soars and the approaching London hard fork have investors feeling extra bullish.

Data from Cointelegraph Markets and TradingView shows that after briefly dipping to a low of $3,418 in the late hours on May 8, Ether price regained its composure and proceeded to vault 13% to reach a new all-time high at $3,958. 

ETH/USDT 4-hour chart. Source: TradingView

While some have been surprised by the bullish movement from the second-largest cryptocurrency by market capitalization, it comes as no shock to Cointelegraph market analyst Marcel Pechman who recently detailed how Ether “could easily sustain until $5,000.”

Bitcoin (BTC) has used its time out of the spotlight to quietly climb higher with bulls now attempting to hold the price above $59,000.

Canine-themed ‘meme coins’ lead the pack

Dogecoin has emerged as one of the biggest mainstream attention grabbers in cryptocurrency history as scores of new users got their first taste of crypto trading from the popular meme token.

The week-long build-up in momentum for DOGE led to a 25% surge in the early trading hours on Saturday that lifted its value to a new all-time high at $0.74 before profit-taking dropped the price back below $0.68.

DOGE/USDT 4-hour chart. Source: TradingView

Thanks to the global attention that Dogecoin has attracted, a number of canine-themed projects have arisen, including Shiba In (SHIB), which burst onto the scene following a two-day rally that saw its value launch 1,100% higher to establish a new record high at $0.0000178.

The overall cryptocurrency market cap now stands at $2.463 trillion and Bitcoin’s dominance rate is 44.8%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.